Wells Fargo & Company Reiterates Equal Weight Rating for Extra Space Storage (NYSE:EXR)

Extra Space Storage (NYSE:EXR)‘s stock had its “equal weight” rating restated by Wells Fargo & Company in a report issued on Monday, MarketBeat Ratings reports. They presently have a $175.00 price objective on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 5.31% from the stock’s current price.

A number of other analysts have also issued reports on EXR. Evercore ISI decreased their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Raymond James raised their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial raised their price target on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada began coverage on Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $170.80.

Extra Space Storage Stock Up 0.8 %

Extra Space Storage stock opened at $166.18 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a market capitalization of $35.18 billion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 6.47 and a beta of 0.86. Extra Space Storage has a fifty-two week low of $101.19 and a fifty-two week high of $184.87. The stock’s fifty day moving average is $174.49 and its two-hundred day moving average is $159.38.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock valued at $3,367,307 in the last quarter. Corporate insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EXR. Boston Partners purchased a new position in shares of Extra Space Storage during the first quarter valued at $130,554,000. Janus Henderson Group PLC grew its stake in Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock valued at $87,824,000 after purchasing an additional 572,231 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Extra Space Storage by 43.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock valued at $228,899,000 after purchasing an additional 473,559 shares in the last quarter. American Century Companies Inc. grew its stake in Extra Space Storage by 543.5% in the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after purchasing an additional 335,447 shares in the last quarter. Finally, Swedbank AB purchased a new position in Extra Space Storage in the first quarter valued at about $33,912,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.